Central Pacific Financial Corp. (NYSE:CPF) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its stake in shares of Central Pacific Financial Corp. (NYSE:CPFGet Rating) by 59.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,370 shares of the financial services provider’s stock after acquiring an additional 32,352 shares during the period. State of New Jersey Common Pension Fund D owned about 0.31% of Central Pacific Financial worth $2,410,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. JPMorgan Chase & Co. lifted its position in Central Pacific Financial by 6.6% in the 4th quarter. JPMorgan Chase & Co. now owns 809,976 shares of the financial services provider’s stock valued at $22,816,000 after purchasing an additional 50,355 shares during the last quarter. Granite Investment Partners LLC lifted its position in Central Pacific Financial by 4.4% in the 4th quarter. Granite Investment Partners LLC now owns 783,569 shares of the financial services provider’s stock valued at $22,073,000 after purchasing an additional 32,970 shares during the last quarter. Northern Trust Corp lifted its position in Central Pacific Financial by 1.4% in the 4th quarter. Northern Trust Corp now owns 668,591 shares of the financial services provider’s stock valued at $18,833,000 after purchasing an additional 9,286 shares during the last quarter. Kennedy Capital Management Inc. lifted its position in Central Pacific Financial by 9.2% in the 4th quarter. Kennedy Capital Management Inc. now owns 471,967 shares of the financial services provider’s stock valued at $13,295,000 after purchasing an additional 39,890 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Central Pacific Financial by 23.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 256,814 shares of the financial services provider’s stock valued at $7,165,000 after purchasing an additional 49,072 shares during the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.

Central Pacific Financial Price Performance

Shares of NYSE:CPF opened at $23.14 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.32. Central Pacific Financial Corp. has a 1 year low of $20.61 and a 1 year high of $30.97. The business has a fifty day simple moving average of $22.55 and a 200 day simple moving average of $25.69. The firm has a market cap of $637.51 million, a price-to-earnings ratio of 8.03 and a beta of 1.21.

Central Pacific Financial (NYSE:CPFGet Rating) last posted its earnings results on Wednesday, July 27th. The financial services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.09. Central Pacific Financial had a return on equity of 15.60% and a net margin of 29.75%. The company had revenue of $70.12 million for the quarter, compared to analyst estimates of $62.25 million. As a group, sell-side analysts predict that Central Pacific Financial Corp. will post 2.55 earnings per share for the current fiscal year.

Central Pacific Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.49%. The ex-dividend date is Tuesday, August 30th. Central Pacific Financial’s dividend payout ratio is currently 36.11%.

Wall Street Analysts Forecast Growth

CPF has been the subject of a number of research reports. Compass Point reduced their price objective on Central Pacific Financial from $30.00 to $29.00 in a research note on Thursday, April 21st. Raymond James reduced their price objective on Central Pacific Financial from $33.00 to $26.00 and set an “outperform” rating for the company in a research note on Thursday, July 7th. Finally, StockNews.com lowered Central Pacific Financial from a “buy” rating to a “hold” rating in a research note on Sunday, May 29th.

Central Pacific Financial Company Profile

(Get Rating)

Central Pacific Financial Corp. operates as the holding company for Central Pacific Bank that provides commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products and services, including personal and business checking and savings accounts, money market accounts, and time certificates of deposit.

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Institutional Ownership by Quarter for Central Pacific Financial (NYSE:CPF)

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